XAU/USD tests resistance level - Technical Analysis - Dukascopy Bank

Fri, 16 Oct 2020 10:00:50 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs61%63%-3.1%
Shorts39%37%4.8%
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)SellNeutralNeutral
Alligator(13;8;5)NeutralSellBuy
SAR(0.02;0.2)BuyBuySell
Aggregate

Since Thursday, the XAU/USD exchange rate has been testing the resistance level—the monthly PP at 1,909.29.

It is likely that yellow metal could gain support from the 55-, 100– and 200-hour SMAs in the 1,901.30/1,908.00 area. Thus, some upside potential could prevail in the market.

However, if the predetermined resistance holds, the rate could reverse south and re-test the psychological level at 1,890.00 in the short term.


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